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Alibaba in Talks to Invest Around $80 Million in Boxed, a Costco-Like Shopping App

Alibaba is close to making another big investment in a U.S. e-commerce company.

The Chinese e-commerce giant is in talks to invest around $80 million in Boxed, a New York City-based shopping app that sells bulk-size groceries and household goods and ships them to customers, according to a source. The final number may come in a bit below or above that number, this person said, and there's still an outside chance that the deal won't happen.

An Alibaba spokesman declined to comment. Boxed CEO Chieh Huang didn't immediately respond to a request for comment. Bloomberg first reported the talks.

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